10 Mistakes To Avoid When Buying Over 50 Life Insurance

Elderly woman getting frustrated whilst buying life insurance on her laptop

When you purchase a life insurance policy, you want to know that it will provide the cover you need and at an affordable price.

The first step in making sure you’re sufficiently protected is choosing the right policy and the right benefit amount. You might be wondering how to make sure you pick a suitable policy. To start, we can tell you how to avoid the most common mistakes people make when purchasing Over 50 Life Insurance.

1.  Waiting too long

One common mistake people make is waiting too long. You can secure British Seniors Over 50 Life Insurance as long as you’re aged 50-80 and a UK resident, but you can choose a larger benefit amount if you secure your policy sooner rather than later.

Here’s the amount of cover you can secure depending on your age:

  • £1,000 up to £10,000 (aged 50-69 at start date)
  • £1,000 up to £9,000 (aged 70-74 at start date)
  • £1,000 up to £6,000 (aged 75-80 at start date)

2. Not comparing policies

One of the best ways to make an informed decision is by comparing policy details. It’s important to understand how a policy compares to other similar offers in order to decide if it’s suitable for your circumstances. However, finding the right policy for you can seem a little overwhelming. Between having to go through all of the details and getting in contact with the companies, it can be intimidating.

Find out how our Over 50 Life Insurance compares to that of some other top UK providers on how we compare.

3. Not looking for guaranteed acceptance policies

Over 50 Life Insurance with guaranteed acceptance exists because other types of insurance are either unaffordable or impossible to secure for older people due to potential health problems. If you do get accepted for a non-guaranteed policy, you may face high monthly premiums.

It could be tricky for those aged 50+ to find a policy at an affordable rate. You may wish to look at guaranteed acceptance policies where health and age aren’t considered when it comes to eligibility. Our policy is available to anyone aged 50-80. Oh, and we won’t ask any health, medical or lifestyle questions.

4. Ignoring trustworthiness and reliability

It’s important to find a provider you can trust. You want to know you’re paying for a quality product. Reviews, flexibility and reputation are among the most important things to look for in a trustworthy life insurance provider.

5. Not checking for optional extras 

Looking for optional extras with the policy can also be useful in helping to decide which Life Insurance provider to select. Here are some optional extras offered by British Seniors:

Increasing Benefit Option

The amount you choose to pay will never increase unless you choose the Increasing Benefit Option in which case your benefit amount will increase year on year to keep up with inflation.

Funeral Benefit Option

Our Funeral Benefit option gives you a FREE £300 contribution towards your funeral costs. If you choose an unattended cremation, please note that the £300 contribution will not apply¹

6. Relying on employer-provided insurance policies

If you’re coming up to retirement age and you have employer-provided cover, you should consider taking out a whole life policy instead. You see, most of these ‘Death in Service’ policies are term insurance which means they could expire after a certain term or in many cases, they could expire once you cease employment with the company meaning you’re no longer protected once you retire.

7. Not calculating how much insurance you need

By not sitting down and working out how much insurance you really need, you could end up being underinsured, paying premiums you can’t afford or paying more into your policy than your family will get from the benefit amount.

If sums were never your strong point, recruit a friend or relative to help you work out an affordable benefit that provides enough cover.

8. Not bothering to take out cover for you and your partner

If you’re entering your retirement years with a partner or spouse, it’s a good idea to take out cover for both parties. You can take out a joint policy with British Seniors or you can take out two separate policies for you and your partner if you so choose. Unfortunately, we can’t know for sure how things will play out, but it’s best to be prepared should the worst happen.

9. Ignoring inflation when calculating

Inflation, it just keeps going up! Living costs have reached peak highs and funeral costs are rising at twice the rate of inflation. Keep this in mind when choosing a benefit amount.

British Seniors offer an Increasing Benefit Option where your premiums and benefit amount will gradually increase each year to help keep up with inflation.

10. Not looking for free gifts and extras

We want to say thank you to our valued customers, that’s why we offer customers many free extras! We send a £125 Gift Card to all policyholders once they purchase a policy with British Seniors - you’ll receive your free Gift in the post after your sixth successful payment to British Seniors (and once your total premiums exceed the Gift Card value).

Now that you know what not to do when buying Over 50 Life Insurance, you can make an informed decision. If you would like to know more about British Seniors, you can chat directly with a member of our team on 0800 803 0052 or you can apply online for a free quote in minutes.

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British Seniors, Proud to Protect

We’re here to help you protect the ones you care about most. Call our specialist UK team to explore your options and get your free quote.

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£125 Gift Card, for new policy holders only, after six successful monthly payments and once your total premiums paid exceeds the value of your Gift Card. Restrictions apply, see www.amazon.co.uk/gc-legal. View full terms and conditions here.


An unattended cremation means any cremation where there is no funeral service, funeral procession (or other services such as family viewing, limousine(s), embalming or delivery of ashes). The cremation is arranged at a crematorium at a date and time chosen by the allocated funeral director and without anyone attending other than the funeral director’s staff.